Persistence Market Research
Global Transformer Bushings Market: Introduction
Transformer bushing is an indispensable part of electric power transmission equipment utilized to operate reliably and safely. It is an insulated device that facilitates the transfer of current carrying conductor through an earthed conducting obstacle. Transformer bushings are often attributed as a prominent cause of transformer failures. In order to avoid the failure and loss, manufacturers strive to develop reliable, cost-efficient and durable transformer bushings. Demand for energy consumption is expected to rise owing to increased utilization by existing and new commercial establishments as well as burgeoning residential sector in urban and rural areas. The increased per capita energy consumption has in turn augmented the need of electricity transmission which has involved robust use of transformers. It has been witnessed that the existing transformers frequently gets overloaded by output capacity against the actual demand of electric power by end use sectors, which in turn has resulted in frequent breakdown of transformers thus affecting the bushings. In order to cater the demands, the government has to enhance the capacity of existing power grid.
Global Transformer Bushings Market: Market Dynamics
Rapid urbanization and significant growth in industrialization are the pre-eminent factors responsible to aid the growth of transformer bushings market. Additionally, the spurring urbanization is underpinning the demand growth for the need of power infrastructure thus bolstering the transformer bushings market during the forecast period. Transformers bushings market is forecast to remain lucrative in the foreseeable future owing to the enhancement of electrical transmission lines in the majority of countries.
Another reason driving the global transformer bushings market is the need for enhancing electrical power grid reliability. Significant fleet expansion and broadening of the rail network in various regions are expected to increase the demand for transformer bushings in railway networks owing to rapidly increasing passenger count. Investments in the power sector to address chronic electricity shortages is expected to drive the global transformer bushings market. A transformer has a service life of more than 40 years. However, the transformer bushings have to be replaced after fixed interval of time because the faulty transformer bushings may lead to damage of the transformer. Consequently, replacement activities of transformer bushings are expected to drive the global transformer bushings market.
In the upcoming years, maturity of the electric power sector in terms of expansion in developed countries is anticipated to slow down the demand growth of transformer bushings. Many of the transformer bushings manufacturers are developing components with optimum life cycle and striving to enhance the material quality. Moreover, fire risk associated with some of the transformer bushings material may hamper the overall market.
Global Transformer Bushings Market: Market Segmentation
Global transformer bushings market can be segmented on the basis of product type, application, insulation type and regions
On the basis of product type, global transformer bushings market can be segmented as
On the basis of application, global transformer bushings market can be segmented as
On the basis of insulation type, global transformer bushings market can be segmented as
Global Transformer Bushings Market: Regional Outlook
With increasing focus by the Chinese government to expand its pre-existing electricity generation system, the power sector is expected to remain prolific in the forthcoming years. Demand for high voltage transformer bushings is set to foresee significant growth. Expansion of High-speed rail network in China in order to boost the economic growth is anticipated to aid the growth of transformer bushings market. The aforementioned factor is anticipated to emanate the demand for transformer bushings. ASEAN also recognized the growing electricity demand and thus, the countries have been spending on resilient electricity infrastructure in order to stimulate regional economic growth.
Furthermore, to strengthen the power supply in urban and importantly in rural areas, Indian transformer bushing market is anticipated to witness healthy demand growth owing to several government policies and schemes. In Latin America, Brazil is foremost electricity market and in the coming years electric power sector is expected to receive significant investments between up to 2018. The growth of renewable energy power plants in Western Europe and North America are likely to trigger the demand for transformer bushings.
Global Transformer Bushings Market: Key Participants
Example of some of the market participants in the global transformer bushings market discerned across the value chain include
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